Naira concluded April on a high note, escalating by N28.15 against the US dollar, exhibiting resilience and fortitude in the forex market.
Amidst the economic flux, the Naira showcased resilience, surging by N28.15 against the dollar at the close of April, marking a significant 1.98% appreciation, as per data from the FMDQ Exchange.
Following a fortnight of steady decline, with the Naira slumping to N1,419 per dollar, the recent surge signals a potential reversal of fortunes, instilling optimism in the forex market.
Accompanying the Naira’s triumphant resurgence was a notable uptick in trading volume, with daily turnover skyrocketing to 225.36 million dollars, a marked increase from the previous day’s 147.83 million dollars.
In the realm of the Investor’s and Exporter’s (I&E) window, the Naira demonstrated versatility, trading within the range of N1,450 and N1,200 against the US dollar, underscoring its adaptability amidst market fluctuations.
